Schaumburg Unfair Auto Financing Lawyers
Legal Representation for Clients Throughout Illinois
If you are considering purchasing a new or used car in Illinois, it is important to educate yourself on how to properly purchase a vehicle before you head to the dealership. While this can help prevent you from being the victim of fraud, many consumers in the United States are wrongfully tricked by unfair and unethical vehicle retailers and dealerships every day.
At Attorney Joseph P. Doyle, our Schaumburg unfair auto financing attorneys can help you or a loved one who is having issues concerning a recent car purchase or financing plan. Unfair auto financing practices of any kind can put your finances in jeopardy and affect your life in myriad ways, so we recommend reaching out to a local attorney as soon as you notice something amiss. We have met many clients who have been defrauded by car dealers, banks, and lending companies and are determined to hold them responsible for their actions.
What to Know Before You Purchase
Before visiting a dealership to purchase a new or used car, we recommend doing the following:
- Determine the monthly payments and interest rates you want and can afford ahead of time.
- Do your research, such as looking into the average retail price for the new or used car you want, average interest rates for your credit score range, and what any trade-ins are worth.
- Request price quotes from dealerships you are interested in before heading there in person.
- Look into financing from sources other than the dealership, such as from a bank or credit union.
- At the dealership, negotiate a fair price for the car before discussing financing terms.
Protect Yourself from Unfair Auto Financing in Illinois
Before you finalize any automobile purchase from a dealer, take a moment to calculate that the amount they are charging matches the price you negotiated. All financing terms should be disclosed in writing. Very carefully review every document you sign before adding your signature and get hard copies of everything in writing. Never sign blank documents and look out for changes in the agreed-upon price, add-ons you did not request, hidden fees, and other un-agreed-upon stipulations that may be hidden in the fine print or elsewhere.
Many car dealers and lenders believe they can get away with imposing unfair or even abusive loan terms on consumers because they know necessary having a vehicle is. Fortunately, these entities can be held accountable for these illegal practices under the law.
At Attorney Joseph P. Doyle, we are adamant about holding such responsible parties accountable for their negligent or wrongful actions. If you believe you have been the victim of unfair financing practices by a car dealer, our car financing attorneys in Schaumburg are prepared to help. Give us a call today to learn more.